HRH To Acquire T.J. Adams Group
NU Online News Service, Aug. 10, 9:34 a.m. EDT–Hilb Rogal & Hobbs Company announced it has signed a definitive agreement to acquire the operating assets of T.J. Adams Group, LLC, a Chicago-based insurance broker.[@@]
The transaction is expected to be completed by Sept. 1. Terms of the deal were not released.
With revenues in excess of $21 million in 2003, T.J. Adams, an Assurex Partner, is a major independent Chicago area insurance broker. The firm has provided an array of insurance and risk management products and services to a broad range of clients for almost 40 years.
T.J. Adams' staff of approximately 150 will continue to operate from its existing two locations in Lombard and Palatine, Ill. Adams will continue under its current leadership of Kent A. Nelson, chairman and chief executive officer, and Gregory A. Field, president and chief operating officer, under the direction of John P. "Jack" McGrath, HRH's Midwest regional director, as part of the broker's Midwest Region.
Martin L. "Mell" Vaughan III, chairman and CEO of the Richmond, Va.-based insurance broker, said the goal of HRH is to continue to build its presence in the Midwest and to add firms that provide clients with the best available consulting and service capabilities.
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